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Asia stocks to track U.S. slide on Fed taper talk: Markets Wrap
Asian stocks are set to dip at the open Thursday after a slide on Wall Street sparked by Federal Reserve minutes indicating officials could start paring stimulus from later this year.
Futures were lower in Japan and Australia but steady in Hong Kong. U.S. contracts fluctuated after the S&P 500 and Nasdaq 100 fell for a second day. Most Fed officials agreed last month they could start slowing the pace of bond purchases later this year given the progress made toward inflation and employment goals.
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Asian stocks are set to dip at the open Thursday after a slide on Wall Street sparked by Federal Reserve minutes indicating officials could start paring stimulus from later this year.
Futures were lower in Japan and Australia but steady in Hong Kong. U.S. contracts fluctuated after the S&P 500 and Nasdaq 100 fell for a second day. Most Fed officials agreed last month they could start slowing the pace of bond purchases later this year given the progress made toward inflation and employment goals.
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Aramco posts nearly 300% leap in second-quarter profit as oil demand recovers
Saudi state oil giant Aramco reported a stunning 288% increase in net income to $25.5 billion for the second quarter, while maintaining its dividend of $18.8 billion, as big oil benefits from higher prices and a recovery in worldwide demand.
Aramco said free cash flow was $22.6 billion in the second quarter and $40.9 billion for the first half of 2021, compared to $6.1 billion and $21.1 billion, respectively, for the same periods in 2020.
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Saudi state oil giant Aramco reported a stunning 288% increase in net income to $25.5 billion for the second quarter, while maintaining its dividend of $18.8 billion, as big oil benefits from higher prices and a recovery in worldwide demand.
Aramco said free cash flow was $22.6 billion in the second quarter and $40.9 billion for the first half of 2021, compared to $6.1 billion and $21.1 billion, respectively, for the same periods in 2020.
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Weekly market recap
For the week, $S&P 500 Index (.SPX.US)$was up 1.57%; the $Dow Jones Industrial Average (.DJI.US)$is headed for a weekly rise of 0.78%, while the $Nasdaq Composite Index (.IXIC.US)$is looking at a weekly gain of 1.11%.
The Labor Department Friday showed the U.S. economy added 943,000 jobs in July. Economists expected 845,000 new jobs last month, according to Dow Jones estimates. The unemployment rate dropped to 5.4%, below the expectation of 5.7%.
"You saw a lot more jobs being created in those areas that are reopening — restaurants, hotels, logistics, transportation," Raymond James Chief Investment Officer Larry Adam said. "That's a good sign. I think that puts more spending power behind the consumer going forward and I think that that’s ultimately a good thing for the economy."
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For the week, $S&P 500 Index (.SPX.US)$was up 1.57%; the $Dow Jones Industrial Average (.DJI.US)$is headed for a weekly rise of 0.78%, while the $Nasdaq Composite Index (.IXIC.US)$is looking at a weekly gain of 1.11%.
The Labor Department Friday showed the U.S. economy added 943,000 jobs in July. Economists expected 845,000 new jobs last month, according to Dow Jones estimates. The unemployment rate dropped to 5.4%, below the expectation of 5.7%.
"You saw a lot more jobs being created in those areas that are reopening — restaurants, hotels, logistics, transportation," Raymond James Chief Investment Officer Larry Adam said. "That's a good sign. I think that puts more spending power behind the consumer going forward and I think that that’s ultimately a good thing for the economy."
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Hi mooer,
Huat lah! Welcome to moomoo community!
Here in moomoo, traders from all over the world share personal investing experiences and concepts with new and old friends.
You can see in-depth investment reviews, daily profit & loss, trading disciplines, the processes for building a personal trading system and more!
Many interesting things are happening now, let me show you around!
Wanna see how everyone else is doing?
People are sharing their Daily Profit & Loss in moomoo community:...
Huat lah! Welcome to moomoo community!
Here in moomoo, traders from all over the world share personal investing experiences and concepts with new and old friends.
You can see in-depth investment reviews, daily profit & loss, trading disciplines, the processes for building a personal trading system and more!
Many interesting things are happening now, let me show you around!
Wanna see how everyone else is doing?
People are sharing their Daily Profit & Loss in moomoo community:...
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Hey moomooers,
Here is the latest Market Recap for you.
All three major averages notched record closes on Friday, rebounding from the previous session’s losses over concerns of a slowdown in global economic growth.
Stocks to watch: $JPMorgan (JPM.US)$, $Goldman Sachs (GS.US)$, $Bank of America (BAC.US)$. $American Airlines (AAL.US)$, $Norwegian Cruise (NCLH.US)$, etc.
Market Snapshot
Here is the latest Market Recap for you.
All three major averages notched record closes on Friday, rebounding from the previous session’s losses over concerns of a slowdown in global economic growth.
Stocks to watch: $JPMorgan (JPM.US)$, $Goldman Sachs (GS.US)$, $Bank of America (BAC.US)$. $American Airlines (AAL.US)$, $Norwegian Cruise (NCLH.US)$, etc.
Market Snapshot
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